Duke Energy Buys Chilean Hydro Power Company

On Wednesday, Duke Energy (NYS: DUK) announced that its Duke Energy International subsidiary has acquired the Iberoamericana de Energia Ibener S.A. subsidiary of CGE Group in Chile for $415 million.

Ibener comes with 140 megawatts of installed hydroelectric-generating capacity in the form of two river hydroelectric power plants, and makes for an "excellent addition to our existing South American hydroelectric power plants," according to Duke, which says it is also considering making additional growth projects in Latin American countries.

Duke expects to borrow about half the purchase price. Shares of the company are down 0.4% at $64.31 on the news.